Renaissance Technologies LLC Makes New Investment in Safehold Inc. (NYSE:SAFE)

Renaissance Technologies LLC acquired a new position in Safehold Inc. (NYSE:SAFE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 184,762 shares of the company's stock, valued at approximately $3,414,000. Renaissance Technologies LLC owned about 0.26% of Safehold at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in Safehold by 11.1% during the 4th quarter. American Century Companies Inc. now owns 1,515,743 shares of the company's stock worth $28,011,000 after acquiring an additional 150,976 shares during the period. Geode Capital Management LLC raised its stake in Safehold by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company's stock worth $32,734,000 after acquiring an additional 38,074 shares during the period. JPMorgan Chase & Co. raised its stake in Safehold by 58.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company's stock worth $19,424,000 after acquiring an additional 388,899 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Safehold by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company's stock worth $13,251,000 after acquiring an additional 29,348 shares during the period. Finally, Invesco Ltd. raised its stake in Safehold by 308.1% during the 4th quarter. Invesco Ltd. now owns 646,222 shares of the company's stock worth $11,942,000 after acquiring an additional 487,886 shares during the period. Hedge funds and other institutional investors own 70.38% of the company's stock.

Safehold Price Performance

SAFE traded up $0.34 during trading hours on Monday, hitting $15.45. The company's stock had a trading volume of 271,652 shares, compared to its average volume of 396,720. The business's 50-day moving average price is $17.21 and its 200-day moving average price is $18.71. Safehold Inc. has a 12 month low of $13.68 and a 12 month high of $28.80. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 10.44 and a beta of 1.63. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same period in the previous year, the firm earned $0.36 EPS. Sell-side analysts expect that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Monday, March 31st. Safehold's payout ratio is 47.30%.

Wall Street Analyst Weigh In

A number of research firms have commented on SAFE. The Goldman Sachs Group decreased their target price on shares of Safehold from $29.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. JMP Securities reiterated a "market outperform" rating and set a $35.00 price objective on shares of Safehold in a research report on Thursday, February 6th. Wedbush reiterated a "neutral" rating and set a $20.00 price objective on shares of Safehold in a research report on Monday, March 31st. Mizuho reduced their price objective on shares of Safehold from $25.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley cut shares of Safehold from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Safehold currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

Safehold Profile

Safehold Inc NYSE: SAFE is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.